Century Plyboards’s Q4 Results for Financial Year 2023

May 15, 2023 editor BUSINESS 0

  •  CenturyPly launched new product ‘Sainik Laminates’
  • CenturyPly to launch its first ESG report in July

India’s leading plywood company, Century Plyboards (India) Ltd., held its board meeting today to announce the company’s Q4 financial results for the quarter ending March 31st, 2023.

Highlights:

  1. Q4FY23 revenue, EBITDA and PAT at all time high
  2. Standalone Revenue at Rs 961.81 crore and PAT at Rs 112.79 crore
  3. Impressive numbers driven by strong operational performance of plywood division in particular

Business Outlook:

Commenting on the company’s performance, Mr. Sajjan Bhajanka, Chairman, Century Plyboards (I) Ltd said, “Despite the challenging demand scenario and sustained inflationary environment, CPIL managed to achieve its highest ever quarterly revenue, EBITDA and profitability in Q4FY23. CPIL achieved revenues of Rs 962 crore in Q4FY23 – reporting a growth of 7.4%/9.6% on YoY/QoQ basis. At EBITDA level we did Rs 176 crores (18.1% margins) as against Rs 166.15 crores (18.6% margins) in Quarter 4 of last year. Profit after tax was at Rs 112.79 crores as against Rs 91.03 crore YoY.”

In some measure of CenturyPly’s aggressive expansion plan, the company has made capital endowments to bolster their horizon across the country. The company is authorizing additional MDF plants with investments of more than 600 crore by the second quarter of financial year 2023-2024. The company’s growth in the recent past has been steady leading to significant revenues. With facilities, CenturyPly is planning to optimise and expand capacity wherever there is a possibility.

At Hoshiarpur, the company is devising plywood plant alongside the MDF plant at Hoshiarpur in H2 FY 2023-2024. The plyboard expansion model in Chennai which is likely to materialise by March 2025 is also in the pipeline. In addition to that the company is sinking 500 crores for particle board in Tamil Nadu. The upcoming HPL (High Pressure Laminates) Line project in Andhra Pradesh has been commenced and is expected to come into force by end of FY 2023-2024. The company is preparing to invest 200 crores on the project.